Brazil hikes interest rate to 11.25 pct, surprises market

miércoles 29 de octubre de 2014 18:28 GYT

BRASILIA Oct 29 (Reuters) - Brazil's central bank raised interest rates by 25 basis points on Wednesday, surprising investors who expected policymakers to stay put until President Dilma Rousseff unveils policy changes following her narrow re-election victory on Sunday.

All 43 economists surveyed in a Reuters poll expected the central bank to keep its benchmark Selic rate unchanged at 11 percent.

Five of the eight board members voted to raise the Selic, and the remainder for stability. (Reporting by Alonso Soto; Editing by Chris Reese)